As the process for producing an octadiene using 2,7-octadienyl formate as a raw material, in Synthesis Example 3 of PTL1, there is described the process in which a mixed solution prepared by allowing palladium acetate and tricyclohexyl phosphine to be present in diglyme (diethylene glycol dimethyl ether) is heated to 120° C., and formylated 2,7-octadien-1-ol (=2,7-octadienyl formate) is added dropwise thereto and reacted therewith to obtain crude 1,7-octadiene (1,7-octadiene/1,6-octadiene=95.4/4.5). Also, in NPTL1, it is described that 2,7-octadienyl formate is reacted in the presence of a palladium compound and an organophosphorus compound to thereby obtain an octadiene, though there is no description concerning a yield of the octadiene. On the other hand, PTL2 discloses a method for producing a propene derivative by acting a palladium compound on a formic acid ester.